Singing Machine (NASDAQ:MICS) Trading 5.6% Higher

The Singing Machine Company, Inc. (NASDAQ:MICS) rose 5.6% during trading on Thursday . The company traded as high as $0.75 and last traded at $0.74. Approximately 103,029 shares traded hands during trading, a decline of 60% from the average daily volume of 256,924 shares. The stock had previously closed at $0.70.

Singing Machine Price Performance

The business’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $0.95.

Singing Machine (NASDAQ:MICS) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.95) earnings per share (EPS) for the quarter. The firm had revenue of $2.44 million during the quarter.

Hedge Funds Weigh In On Singing Machine

An institutional investor recently bought a new position in Singing Machine stock. Cable Car Capital LLC purchased a new stake in shares of The Singing Machine Company, Inc. (NASDAQ:MICS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 155,001 shares of the company’s stock, valued at approximately $157,000. Singing Machine makes up approximately 0.2% of Cable Car Capital LLC’s holdings, making the stock its 29th largest holding. Cable Car Capital LLC owned about 3.67% of Singing Machine at the end of the most recent reporting period.

About Singing Machine

The Singing Machine Company, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.